Biogen Inc. (NASDAQ:BIIB) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Biogen Inc. (NASDAQ:BIIB) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,203 shares of the biotechnology company’s stock after selling 12,777 shares during the period. New York State Common Retirement Fund owned about 0.09% of Biogen worth $31,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BIIB. OFI Invest Asset Management purchased a new position in Biogen during the third quarter valued at $26,000. Gladius Capital Management LP purchased a new position in Biogen during the third quarter valued at $28,000. KB Financial Partners LLC lifted its holdings in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. CVA Family Office LLC purchased a new position in Biogen during the fourth quarter valued at $36,000. Finally, Baker Avenue Asset Management LP lifted its holdings in Biogen by 215.5% during the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 125 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Up 0.2 %

Shares of BIIB stock opened at $202.46 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. The firm has a market cap of $29.43 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.92 and a beta of -0.02. The company has a 50-day moving average of $212.76 and a two-hundred day moving average of $234.17. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.40 earnings per share. On average, analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 over the last 90 days. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. StockNews.com downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. UBS Group reduced their target price on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Finally, Canaccord Genuity Group reduced their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $293.88.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.